If your insured bike is stolen, you would expect your insurers to pay up, correct? Sadly, it's not always so simple. Mine did so only nine months after the theft, and then only because I went to the financial ombudsman.

Given the number of bikes stolen every day – and the infamous ability of some insurance firms to wriggle out of what you might see as their proper obligations – I hope my long and tortuous tale may be of use.

It began last September when my shiny, much-cherished Specialized road bike disappeared after a break-in at a bike store inside our development of about 160 flats in Borough, south London.

The thief or thieves got inside even though the bike store has an alarm and is locked at all times. Unfortunately, although attached to itself with a sturdy Kryptonite lock, my bike was not locked to a wall bracket. As is often the case, there were too many bikes and not enough brackets – but that's another story.

Still, I had specifically opted for bike cover as part of my home contents insurance with Bank of Scotland Halifax, so I thought at least most of my £700 claim would be reimbursed.

It was, sadly, not nearly that straightforward. Halifax refused to pay out on the grounds that the policy did not cover loss of a bike "left unattended in a public place unless locked to a fixed structure". I conceded the latter, but expressed surprise that the bike store, which is behind the gates to the block of flats, was considered to be a public place.

I pointed out that the store was clearly on private property, under lock and key and alarmed. One person at Halifax went so far as to suggest that someone else living in the flats could have broken in, which seemed absurd, as anyone living there is entitled to a key.

Making no headway, I asked to speak to someone higher up, a woman who initially seemed more amenable and promised to consider my case. I also asked the management company for the block to write a letter in support of my contention that the bike shed was on private property.

This they duly did but to no avail. Halifax stuck to its guns, insisting that the bike store constituted a public place, despite the gates and the "private property" signs by the parking spaces.

The case crawled through to Halifax's appeals process, but the final word remained no. Halifax would not cover my claim. What was particularly galling throughout the whole experience was the evident attitude on the part of Halifax that I was, somehow, trying to pull a fast one.

A Halifax spokeswoman added: "The claim was initially declined due to our interpretation of the communal area in which the bike was stored and that it was not locked to a fixed structure at the time. However, we are happy to abide by the FOS adjudication and are sorry for any inconvenience this has caused."

A spirit of meanness and a "How can we wriggle out of this?" mindset seemed to be at work, especially in the initial conversations. But Halifax did do me a huge favour. They said I could take the matter up with the financial ombudsman. When I did contact that office, their friendly and helpful attitude was in stark contrast to that at Halifax.

In the meantime, I went out and bought a cheaper Specialized, which still came out about £600 after lights, rack and other paraphernalia, and pretty much forgot about the case. It was thus a pleasant surprise to get a phone call from the financial ombudsman in March with the news that it had upheld my claim. Halifax, or more specifically St Andrew's - the ultimate insurer - agreed to pay out.

St Andrew's acknowledged that my claim was covered by the terms and conditions of the policy "as the area where the bike was kept cannot reasonably be described as a public place". It also agreed to pay £50 for "distress and inconvenience caused".

It seems the moral of the story is this: if your insurance company refuses to cover what you think is a reasonable claim, its word is not final. Halifax invited me to renew my insurance policy with it when it expired. I declined.

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